CCCI inks deal with Sabah industries

CEBU, Philippines - The Cebu Chamber of Commerce and Industry has signed an agreement with the Federation of Sabah Industries (FSI) in Malaysia to strengthen trade relations and mutual exchange of business opportunities between Sabah and Cebu.

In an interview yesterday with CCCI president Ma. Teresa Chan, she said that the sisterhood agreement between two chambers is vital for both parties as ASEAN integration is going to be fully implemented next year.

A 10-man delegation from Cebu led by Chan went to Sabah last week to formally sign the memorandum of agreement between FSI and CCCI.

Sabah, according to Chan is a good source of lumber for the Philippines, as lumber production in the state is still allowed by their government unlike in the Philippines.

Aside from lumber, Cebuano businessmen could also take advantage of the expertise of Sabah Palm Oil Industry, as the Philippines in general is seen to have huge potential in producing palm oil.

Chan said it is important for the two chambers to forge strong connection, as "coopetition" is now being pushed under the ASEAN integration regime instead of "competition".

The inter-chamber alliance and cooperation is a positive strategy to boost and contribute to the economic prosperity as well as trade relations between Cebu and Sabah.

Sabah is one of two Malaysian states on the island of Borneo. It is located on the northern portion of the island of Borneo and known as the second largest state in the country after Sarawak, which it borders on its southwest.

Chan added that the two business organizations will also soon craft programs that will re-enforce its partnership to promote growth between the two economies.

Chan reiterated the possibility of asking help from the Sabah businessmen on how to grow the Palm Oil production in Cebu, or other agricultural areas in the province.

Compared to coconut, palm produce high yielding oil production, four times than that of coconut, Besides, palm is easy to grow and can be planted in areas where many of the crops can’t grow.

A group of businessmen from Sabah will be visiting Cebu next year in time of the Cebu Business Month (CBM 2015) celebration. (FREEMAN)